Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.

On episode 24 I talk with Carl-Alain Memnon of Grain. Grain is the Digital Credit Card for Everyone, they provide a line of credit based on your cash flow, not your credit score.

Deserve, a Fintech company transforming credit cards into mobile-centric software, has received a strategic investment from Visa to expand access to Deserve’s credit-card-as-a-service for financial institutions, Fintechs and brands. Visa joins Mission Holdings, Mastercard, Ally Ventures, Goldman Sachs Asset Management and Sallie Mae in supporting

LendingClub (NYSE:LC) has easily topped analyst estimates reporting net income of $27.2 million or an EPS of $0.26. Top line revenue came in at $246.2 million with total sequential revenue growth of 20% outpacing origination growth of 14%, according to the digital bank. Shares in

The data aggregator launches an accounts-based payments ecosystem that has the potential to sharply impact card networks and bank revenues.

Nubank, which is backed by Warren Buffett’s Berkshire Hathaway, has confidentially filed for an initial public offering (IPO) on the New York Stock Exchange.

With new funding, Extend is plotting an expansion of its offerings, including virtual card capabilities directly to consumers.

Collaborations among rival banks and fintechs can be mutually beneficial, Vanessa Colella says. A recent example is a small-business loan portal Citi created that other banks can use.

Jelena McWilliams shared details about the interagency "crypto sprint" involving the FDIC, the OCC and the Fed, and said the agencies plan to issue a series of policy statements in the coming months.

Crypto owners store their wealth in wallets, which can be hot or cold. A hot wallet is stored on the internet, which, although making it vulnerable to cyberattacks, makes it easier to transact with. People often store their currency with online exchanges, which is considered even riskier, because...